Just stop paying. More and more homeowners are doing just that, and enjoying themselves during the ensuing years it takes for banks to foreclose. You probably have at least two years now, and foreclosures are getting even slower. It’ll probably be four years before too long and if you have a hefty mortgage, that’s a whole lot of cash to put to better use.

I’m a total idiot. All these years I have paid my taxes, all income on the books, and paid off three mortgages and three seconds in full. Now I bought another house with 40% plus down…..it will take a serious depression to wipe out my equity. And it is clearer to me now then ever before that I HAVE DONE THE WRONG THING!! Viva la great rationalizers and theives- hell, it’s the NEW AMERICAN WAY!!